Economics, history and the evolution of life are governed by the same underlying principles, implying predictable trends in all three areas, according to a new book by Geerat Vermeij, distinguished ...

Early in my teaching career I managed to inadvertently get most of the students in my microeconomics class mad at me, and for once, it had nothing to do with anything I said in class. The problem was ...

In a series of books written over the past decade, Paul Ormerod has criticised orthodox economics for being too mechanistic and divorced from reality and has argued the case for a new approach. As one ...

Journal of Economic Issues, Vol. 46, No. 2, PAPERS FROM THE 2012 ANNUAL AFEE MEETING (JUNE 2012), pp. 419-428 (10 pages) We present a common analytical framework for evolutionary and institutional ...

NOT FOR the first time this century, the global economy is rebounding from crisis. The new normal will differ from the old one. The pandemic shifted resources around, destroyed firms, and subtly ...

Unlike businesses or governments, organisms can't go into evolutionary debt -- there is no borrowing one's way back from extinction. This can lead to seemingly irrational economic choices that ...

When survival over generations is the end game, researchers say it makes sense to undervalue long shots that could be profitable and overestimate the likelihood of rare bad outcomes. Making decisions ...

BEFORE he turned to the bigger fish that occupy the White House, Paul Krugman, an economist at Princeton University and a polemicist for the New York Times, enjoyed nothing more than frying the cranks ...

IN my article last week, I shared ideas on complexity economics and suggested that our economy has become a complex, adaptive and dynamic system, where it is inherently difficult to prescribe or ...